State AG Cautions against Living Trust Mills

If you are about to sign a living will prepared for you by someone who told you that you needed one during a free seminar or dinner, the Minnesota Attorney General has some advice for you. The Minnesota Attorney General recently issued a very stark warning for consumers about living trust mills. They are a [...]

2016-05-13T10:50:00-07:00May 13th, 2016|Wills|Comments Off on State AG Cautions against Living Trust Mills

Filing Final Tax Returns

After a loved one passes away someone has to file a final tax return with the IRS. It is more complicated than filing your own returns. The IRS does not forgive any tax on the income a person makes during the final tax year of his or her life. Taxes are owned on all the [...]

2016-05-12T11:07:00-07:00May 12th, 2016|Taxes|Comments Off on Filing Final Tax Returns

Designating Beneficiaries the Right Way

Designating beneficiaries on your life insurance policies, retirement accounts and annuities should be handled with care. It is not as simple as just writing a name down on the form. Designating a beneficiary on your IRA might seem like a simple process of just writing down the name of your spouse or child. However, as [...]

2016-05-11T10:55:00-07:00May 11th, 2016|Beneficiaries|Comments Off on Designating Beneficiaries the Right Way

Jackson Estate and the IRS Will Face Off in Court

In the estate tax dispute between the estate of Michael Jackson and the IRS the two sides are ridiculously far apart over how much tax is due. One reason is that the IRS has never before asked for estate taxes to be paid for the same type of property disputed in this case. The pending [...]

2016-05-10T11:58:00-07:00May 10th, 2016|Taxes|Comments Off on Jackson Estate and the IRS Will Face Off in Court

Talk to the Doctor about End of Life Care

Doctors can now receive reimbursement from Medicare for talking to their patients about end of life medical care. The conversation should not be one-sided nor should it be the only end of life conversation people have. A recent article in the Washington Post, entitled "When a doctor and patient disagree about care at the end [...]

2016-05-09T10:47:00-07:00May 9th, 2016|Medicare|Comments Off on Talk to the Doctor about End of Life Care

Senate Passes OAA Reauthorization Act

In an important step for senior citizens the Senate has passed the Older Americans Act Reauthorization Act of 2015. The bipartisan bill now awaits the President's signature. Originally passed in 1965, the Older Americans Act provided key funding for important programs for the elderly. It including funding for healthcare programs, elder abuse prevention programs, programs [...]

2016-05-06T10:41:00-07:00May 6th, 2016|Elder Law|Comments Off on Senate Passes OAA Reauthorization Act

Help Prevent Elder Financial Abuse

The financial abuse of the elderly is an ongoing problem in the U.S. that seems to be getting worse as a greater percentage of Americans are retiring. You can help prevent it without too much effort. Every year in the months just before and just after tax day, scammers pretending to be IRS agents increase [...]

2016-05-05T11:04:00-07:00May 5th, 2016|Elder Law|Comments Off on Help Prevent Elder Financial Abuse

Japan’s Guardianship Problems

The U.S. is not the only country to have concerns about its elderly guardianship system. The Japanese government has also tried to address the situation. Like other developed nations Japan has an aging population and an increasing number of dementia cases. In 2000, Japan started a guardianship system to help with this issue. The idea [...]

2016-05-04T11:24:00-07:00May 4th, 2016|Elder Law|Comments Off on Japan’s Guardianship Problems

Finding Life Insurance Beneficiaries

A new law in Florida seeks to make it more likely that life insurance companies will learn of policyholder's deaths and consequently make required payments to beneficiaries. Life insurance is a key component of many estate plans. Because life insurance payments are supposed to be made immediately they can provide necessary funds to descendents and [...]

2016-05-03T10:48:00-07:00May 3rd, 2016|Beneficiaries|Comments Off on Finding Life Insurance Beneficiaries

Funeral Cost Information is Tough to Get

When creating their estate plans many people also plan ahead for their funerals. It is a good time to do it as once funeral costs are known, making the money available for the funeral can become a part of the estate plan. A survey shows, however, that getting that pricing information is not always easy. [...]

2016-05-02T11:18:00-07:00May 2nd, 2016|Funerals|Comments Off on Funeral Cost Information is Tough to Get
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